{"id":29349,"date":"2024-12-18T10:17:47","date_gmt":"2024-12-18T10:17:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=29349"},"modified":"2024-12-18T10:17:47","modified_gmt":"2024-12-18T10:17:47","slug":"sec-reappointment-of-caroline-crenshaw-canceled-by-senate-banking-committee","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=29349","title":{"rendered":"SEC Reappointment Of Caroline Crenshaw Canceled By Senate Banking Committee"},"content":{"rendered":"

The Senate Banking Committee has canceled a planned vote on the reappointment of Caroline Crenshaw as a commissioner for the US Securities and Exchange Commission (SEC). <\/span><\/p>\n

Originally scheduled for 18 December 2024, the markup session was also set to address the nomination of Gordon Ito to the Financial Stability Oversight Council. However, both votes were abruptly shelved, according to a 17 <\/span>December 2024 announcement<\/span><\/a>.<\/span><\/p>\n

The cancellation casts doubt on Crenshaw\u2019s chances of securing a second term at the SEC before Republicans assume control of the Senate in January. <\/span><\/p>\n

EXPLORE:\u00a0<\/span>Detroit To Accept Crypto For Taxes And Fees In Bid To Attract Blockchain Firms<\/span><\/a><\/strong><\/p>\n

Crenshaw Faces Opposition Due To Anti-Crypto Stance<\/span><\/h2>\n

Crenshaw\u2019s current term <\/span>is set to expire<\/span> in June 2024, but under SEC rules, she can continue serving for up to 18 months beyond that date if a successor is not confirmed.<\/span><\/p>\n

Crenshaw, who has served under <\/span>both<\/span> former President Donald Trump and current President Joe Biden, has faced opposition from crypto advocacy groups due to her anti-crypto stance. <\/span><\/p>\n

In contrast, over 40 organizations have supported her nomination, arguing that Trump\u2019s administration would be unlikely to nominate any Democratic SEC commissioners.<\/span><\/p>\n

BREAKING: A Senate aide has just informed me that tomorrow\u2019s Senate Banking Committee scheduled markup vote on @SECGov<\/a> Commissioner Caroline Crenshaw has been canceled. <\/p>\n

She will not be renominated to her position.<\/p>\n

\u2014 Eleanor Terrett (@EleanorTerrett) December 17, 2024<\/a><\/p>\n\n

Currently, Crenshaw is one of three Democrats on the commission, along with Gensler and Commissioner Jaime Liz\u00e1rraga. <\/span>Both<\/span> Gensler and Liz\u00e1rraga are expected to depart the SEC in January, even though their terms have not yet expired.<\/span><\/p>\n

With Republicans poised to control the Senate from 3 January 2024, it remains uncertain whether they will reconsider Crenshaw\u2019s nomination or opt for an alternative candidate.<\/span><\/p>\n

If confirmed, she could remain at the SEC until 2029. If not, her seat may be left vacant or filled by a Republican-backed nominee.<\/span><\/p>\n

Trump has outlined plans to overhaul the SEC\u2019s leadership, vowing to replace Gensler \u201con day one\u201d if he regains the presidency. <\/span><\/p>\n

He has also announced plans to nominate former SEC Commissioner Paul Atkins as Gensler\u2019s replacement and to appoint former PayPal COO David Sacks as an \u201cAI and crypto czar.\u201d<\/span><\/p>\n

Earlier this month, a digital advertising <\/span>campaign\u00a0targeted Crenshaw<\/span><\/a>, accusing her of being \u201ceven more extreme\u201d than Chair Gary Gensler.<\/span><\/p>\n

One of Crenshaw\u2019s major points of contention is her opposition to the approval of spot bitcoin exchange-traded funds (ETFs). She has also referred to crypto markets as a \u201cpetri dish\u201d for fraud, further alienating industry players.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>20 Next Cryptocurrencies to Explode in 2024<\/span><\/a><\/strong><\/p>\n

Coinbase To Cut Ties With Law Firms Linked To Former SEC Officials<\/span><\/h2>\n

Coinbase CEO Brian Armstrong\u00a0<\/span>has announced that the crypto exchange will sever ties<\/span><\/a>\u00a0with law firms employing former SEC officials involved in what he claims was an effort to\u00a0\u201cunlawfully kill\u201d\u00a0the crypto industry.<\/span><\/p>\n

This\u00a0came as the SEC has taken a\u00a0tougher\u00a0stance against crypto firms in 2024. More specifically, the regulator\u00a0<\/span>imposed nearly $4.7 billion<\/span><\/a> in enforcement actions against crypto companies, a 3,018% increase from 2023.<\/span><\/p>\n

The fines included forfeitures, disgorgement, civil penalties, settlements, and prejudgment interest, calculated from when the SEC initiated each case.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>17 Best Crypto to Buy Now in 2024<\/span><\/a><\/strong><\/p>\n

The post SEC Reappointment Of Caroline Crenshaw Canceled By Senate Banking Committee<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The Senate Banking Committee has canceled a planned vote on the reappointment of Caroline Crenshaw as a commissioner for the US Securities and Exchange Commission (SEC). Originally scheduled for 18 December 2024, the markup session was also set to address the nomination of Gordon Ito to the Financial Stability Oversight Council. However, both votes were […]<\/p>\n","protected":false},"author":0,"featured_media":29350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29349"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29349"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29350"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}